Isn't it great, that feeling you get when you know you made the right choice and got a great deal!
We want you to have that feeling after we have organised a car loan for you.
At Mango Money our aim is to be the number 1 car loan broker on the Gold Coast.
- You get a great rate
- We fully explain your loan choices
- You get the right loan for you.
We offer great rates for ABN (Australian Business Number) holders. No financials required. (conditions apply)
Happy Car Loan Client
I have just had my car loan approved with Alex. He is very professional, easy to deal with and his language is understandable without the technical jargon. He kept me informed all the way through the process which didn't take very long. I would recommend anyone seeking finance to give Alex a call. Thanks Alex and my next loan from you will be for an investment property.
So happy with my car loan that I'm getting Alex to redo my home loan. More money for me, its a no brainer
We have known Alex for over 10 years now and he has always steered us in the right direction, he now handles 3 property mortgages and 1 car loan for us having completed the 3rd property only last week. His advice is always spot on and communicates in a language that all can understand. Luke and I highly recommend Mango Money to help with wealth creation, money management and overall to get the best possible rates etc. Thank you Alex will now start saving for property number 4 - lol! 🙂
Alex at mango money saved me over $5000 on the life of a car loan. Especially happy as I was told by another finance company that 10% car loan was the best they could do .... Alex managed to get me a 6 % loan instead .... I recommend mango money to anyone. Do yourself a favour, have a look yourself.
- Secured car Loans
- Unsecured Car Loans
- Dealer Finance
- Car leases
- ABN Holders
- Repayment calculator
A secured car loan, is commonly called a chattel mortgage, if you are self employed or simply a car loan if you are an employee.
Basically it means that your loan is secured by the car you are purchasing.
For lenders they are more secure then a personal loan because, if you don't make your repayments the credit provider can repossess the car and sell it.
The benefit of a secured car loan is that you can get a more competitive interest rate than you would get with a personal loan.
An unsecured car
Interest rates on unsecured car loans are higher as they do not use the car as security for the loan. And lenders know that if they try to sell an older car pricing can vary wildly depending on the condition of the car at the time of sale.
Be aware that, many lenders regularly advertise what seems like a competitive rate. Normally using terms like "Personal Loans from ..." However, once you apply for the unsecured car loan, your circumstances can be taken into account and the rate you end up with may not be so competitive.
It can also be worthwhile to buy a newer car and actually achieve lower repayments. So before rushing out to purchase a new car, give us a call and we can give you a couple of different quotes for the different scenarios. You can then make your purchase with bargaining power knowing your finance is sorted.
Dealer finance can seem like a very convenient option but in many cases, it may not be the best choice for you.
If you are offered finance at a dealer, there are a number of things to consider.
- The finance offered can only be used on cars available in the car yard. This means that you have narrowed down your options and it stops you looking around for a better price.
- Car salesmen are not only paid on the sale of the car but they are also paid for the finance.
- Also consider the term of the loan, as a dealer may make the term of the loan shorter with a large balloon payment, while a credit provider can do a loan that is longer with more flexibility.
- Although it can be convenient to do a loan through a dealer due to paperwork already being half done, you really don't have as much bargaining power or flexibility.
- When you are comparing loans from a dealer or getting independent finance, you need to compare apples to apples. So to compare, don't go on interest rates, as fees may not be included. Sometimes, a dealer can also get you off track by just talking about how low the cost of your monthly repayments will be. The best way to weigh up the cost of your new car is to ask for a calculation of the total cost of the loan.
A Car lease is a bit like renting a car for a period of time usually between 2 to 5 years.
Car leasing are usually taken out by employees, known as a notated lease or by the self employed regularly known as a finance lease.
Employees - The Novated Lease
A novated lease is a car finance option that allows your employer to make lease payments on your behalf from your pre-tax income. The lease can include operating cost such as registration and servicing. It is important when considering taking a notated lease to speak to your accountant.
A novated lease can be a great option but it doesn't come without risk. If you lose your job the lease goes from the business into your name only. You may also lose the tax advantages associated with the lease and be required to maintain the payments even while you don't have work.
Self employed may lease a car for tax purposes where the lease payments are tax deductible to the business. Leases are not as popular as they once were, because unlike a chattel mortgage you can not claim the full cost of the GST back at the time of purchase.
Car Loans for the Self Employed - ABN Holders
As an ABN holder we have some really great finance options.
You may even be able to qualify for a loan without supplying financials on selected motor vehicles.
We can generally finance on passenger cars and commercial vehicles up to GVM of 4.5 tonnes.
Did you know replacing your vehicle may even improve your cash-flow? Click this link to find out more.
At Mango we have a number of Lenders so we can negotiate the best rate for you. Organise your finance with us and you are not tied into buying your vehicle from the one car yard. Once organised you can buy from anywhere you want. We will liaise with the dealer to ensure prompt settlement and delivery of your car once your loan is approved. Give us a call today!!